German developer Offshore Ostsee Wind (OOW) has taken over a 40 MW German offshore project from Neptun PV after its subsidiary Neptun TechnoProduct filed for bankruptcy (Windpower Monthly, April 2003). The Baltic Sea site is off the Darss peninsula within the 12 sea-mile zone that marks state or federal authority. It is planned to comprise 2-3 MW Nordex turbines. The project is budgeted at EUR 120 million and may be financed with a closed-end wind fund, Nordex says. OOW is also developing the 70 turbine Kriegers Flak offshore project, 35 kilometres north of the island of Rügen. It has yet to be approved.